I currently have an Old iMac late 2006 and thinking about upgrading. Should I?

I have late 2006 iMac functioning well but still with Snow Leopard and in view Apple is not issuing updates anymore and if I increase memory I can only reach max Lion I was thinking maybe better to buy new one. I have security issues if apple not updating SL. Apple will issue new OS Yosemite and maybe new iMac is it better to wait or change now ? Will I have problems with banks etc if not uodated Thanks so much

I have late 2006 iMac functioning well but still with Snow Leopard and in view Apple is not issuing updates anymore and if I increase memory I can only reach max Lion I was thinking maybe better to buy new one. I have security issues if apple not updating SL.

When an app version or operating system is no longer being supported, there is always an increased security risk by continuing to use the non supported version.

Apple will issue new OS Yosemite and maybe new iMac is it better to wait or change now ?

The current devices more than likely will support Yosemite so if you find a good deal on one, get it now, in my opinion.

I would definitely consider upgrading since your Mac is no longer supported with the latest operating system releases. You won't have any issues per say with connecting to the internet or any websites though your older hardware may bottleneck how responsive websites are in general on your system. You may run into issues from security vulnerabilities due to running older hardware but using a third party browser (i.e. Google Chrome) and other third party software might protect you from browser-based vulnerabilities. It is no substitute for having a version of the OS that is still receiving security patches but it will help if getting a new system is not in the cards for you in the foreseeable future.

If budget is an issue, you don't need to buy the latest and greatest. Yosemite has support for iMacs going back to 2007 so even buying a system that is several years old ought to still work for you.